EURUSD
Market Trend
In the daily chart, the newest low point is higher than the last one, maybe it is a sign that the market will turn to the up-trend. If the market breaks above the resistance level 1.11200, it will be a conformational signal about the up-trend.
In the H4 chart, there is a clear resistance level 1.11200. The market will test it soon. If the market does not break above it, 1.11200 will be a good sell zone for us.
Trading plan
In the H4 chart, a bearish bat pattern is spotted, it provides a potential reversal level 1.11050. It is near the clear resistance level 1.11200. Because the market is in the up-trend, so this selling signal is a counter trend trade. Traders should be watching how does the market goes later. If it does not break above 1.11200, lets trade this bat pattern.
Trade Ideas
Sell limit: 1.11200
SL: 1.11800 (-60pips)
TP1: 1.09750 (+145pips)
TP2: 1.08930 (+227pips)
Risk Reward ratio: 3.87
GBPUSD
Market Trend
In the daily chart, the market is going to test the resistance level 1.25000 soon. Notice that the Friday candle high point is highest than previous candles since 27 March, so the market may break above 1.25000, trades who want to sell this market should better wait for the confirmational signals.
In the H4 chart, the market is in the sideways trend. If the market does not break above the top of the sideways trend, now it will be a good place for us to short this market.
Trading Plan
If the market breaks above the resistance level 1.25000, I will wait for the market to go back to the sell zone, which is around 1.21800, then if the market gives me confirmational signals, then I will long this market.
Trade Ideas
Buy Limit: 1.21800
SL: 1.20800 (-100pips)
TP: 1.25890 (+409pips)
Risk Reward Ratio: 4.09
USDJPY
Market Trend
In the daily chart, the market created a new high point 109.150. If the market wants to continue the downtrend, it needs to break the support level 107.100. Let’s see how it goes.
In the four hour chart, the market is in the sideways trend. Now the market is near the top of the sideways trend, it is a good place for us to short the market.
Trading Plan
A bearish shark pattern is spotted in H4 chart, it provides a potential reversal level 111.110. If the market reaches it and shows me confirmational signals, I will decide should I short the market.
Trade Ideas
Sell limit: 111.110
SL: 112.200 (-109pips)
TP1: 109.570 (+154pips)
TP2: 108.600 (+251pips)
Risk Reward Ratio: 2.3
AUDUSD
Market Trend
In the daily chart, the market breaks above resistance level 0.62000, then it has a 165 pips uptrend. The next resistance level that the market will test is 0.66300.
If the market does not break above the resistance level 0.66300, then it will turn to the sideways trend. We need more candlesticks to show up to confirm the top and the bottom of the sideways trend.
Trading Plan
A bearish bat pattern is spotted in H4 chart, it provides a potential reversal level 0.65480. I will wait for the market to reach it. If the market gives me confirmational signals, I will decide should I short the market.
Trade Ideas
Sell limit: 0.66120
SL: 0.67700 (-158pips)
TP1: 0.61500 (+462pips)
TP2: 0.59100 (+702pips)
Risk Reward Ratio: 4.44
USDCHF
Market Trend
In the daily chart, the market does not break above resistance level 0.98200, it means the bearish power is controlling the market now. The market will test the support level 0.95000 soon.
In the H4 chart, the market breaks the bullish trendline and turns to the downtrend. If the traders want to join this downtrend, better to wait for the market to go up to the sell zone which is around 0.97850 (blue box).
Trading Plan
In order to have the best risk? reward ratio, I will wait for the market back to the sell zone then decide the best timing to short it.
Trade Ideas
Sell limit: 0.97850
SL: 0.98500 (-65pips)
TP1: 0.96840 (+101pips)
TP2: 0.96150 (+170pips)
Risk Reward Ratio: 2.62